The Pensions Regulator has sent warning notices to former BHS owner Dominic Chappell and his company, Retail Acquisitions, over the collapsed retailer’s pension deficit.
It wants Chappell and his firm to pay millions of pounds to help offset the £571m deficit, sources close to the situation have told The Guardian. However, the exact details of the claims have not been confirmed.
The claims are likely to relate to the amount of money Chappell and Retail Acquisitions took out of BHS during their 13 months as owners – thought to amount to £17m.
The parliamentary committee that investigated the demise of BHS accused Chappell of having “his fingers in the till”.
As previously reported by Drapers, the regulator has also started legal proceedings against Sir Philip Green, who sold BHS to Retail Acquisitions for £1 around a year before it fell into administration, leading to the loss of 11,000 jobs.
It is seeking around £300m from Green.